SMEs and Ventures

MSME Partners to Deliver MSME-focused Interventions for 1.3M Beneficiaries in 17 States and FCT

A collection of partners in the Micro, Small and Medium Enterprises (MSME) space are preparing to implement several MSME-focused interventions, aiming to reach 1.3 million people across 17 States and the FCT, in an effort to support the Federal Government’s efforts to strengthen the economy and increase job opportunities.

The MSMEs are playing crucial roles in the interventions, according to the Vice President’s Office’s MSME and Job Creation Unit, which is in charge of coordinating them. The interventions are intended to ensure that the Tinubu administration’s commitment to economic diversification and job creation is realized.

The interventions that need to be finished in 17 States and the FCT include shared centers for MSMEs that outfit four marketplaces with 300kva solar panels and mini grids to power 6 fashion hubs and 2 furniture clusters for eight hours each day.nOther initiatives include, among others, cold rooms for the storage of seafood and hubs for painting and drying cars.

Five of the interventions will be finished and delivered by December 2023 as per Vice President Kashim Shettima’s instructions for the swift implementation of the projects.

The completion of 12 further interventions is anticipated by December 2024. Abia, Rivers, Jigawa, Benue, Borno, Lagos, Ekiti, Niger, Sokoto, Enugu, Gombe, Akwa Ibom, Yobe, Ondo, Osun, Bayelsa, Imo, and FCT are among the States to gain from the interventions.

Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Corporate Affairs Commission (CAC), Industrial Training Fund (ITF), National Agency for Food, Drug Administration and Control (NAFDAC), Standards Organization of Nigeria (SON), Bank of Industry (BOI), Nigerian Export-Import Bank (NEXIM), Development Bank of Nigeria (DBN), and Nigerian Export Promotion Council, Bank of Agriculture (BOA), Raw Materials Research and Development Council (RMRDC), Nigerian Information Technology Development Agency (NITDA) and Federal Inland Revenue Service (FIRS) are among the MSME partners working with the Office of the Vice President to carry out these interventions.

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